Last week, I wrote a column about the human toll of foreclosure. Not exactly an upbeat story, but one that needed to be told. This week is a feel good story about the never say die attitude of Americans and how coming together as a family may just be the answer to difficult economic times.
It was in April when I was watching a news story on a cable network channel about an immigrant father who purchased his first new home well into his latter working years. He bought it at the peak or at the top of the housing boom. His kids were older; one was still living at home while the others all had jobs and places of their own.
Surprise, Surprise, Dad lost his job and could not find work. He fell behind in his mortgage payment and was in danger of losing the first and only new home he ever had. This is the good part of the story. His kids immediately came to their parentsâ€™ rescue. All three kids that were living outside the home voluntarily gave up their apartments to move back in with their parents. This is not something a mid 20â€™s young person wants to do when they are at the peak of launching their personal and professional life. They did it because they wanted to help their parents keep the house. They did it to chip in and pay the mortgage. They did it because they realized that they were stronger as a group than individually on their own. They did it because they could pool their resources and cut expenses. They did it because family means something.
Kudos to the kids, you are to be congratulated for your kindness, compassion and willingness to give back to the parents who gave it all for you. The take away lesson here is simple: maybe families should consider moving in together again. Maybe you can rent out the basement or a spare bedroom that you are not using. This model makes a lot of sense to help people get through tough times until things turn around again.
Dan Polimino is a Realtor with Fuller Sothebyâ€™s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com